Movers and SHAKERS
Image: Genoa Roofs, Shocking Wonder (Flickr)
Publisher Embraces Technology that Allows Travel Experiences Regardless of Global Restrictions
Vacation travelers have been kept home the past few years, and from the looks of things, if a world tour was on their bucket list, they are likely to remain frustrated. However, technology has an answer to this frustration, and a 22-year-old company has worked with its partner to develop a solution. The company is a subscription-based travel company that sees the opportunity to embrace technology, as they did with the internet back when founded - and in a way that allows them to broaden customer base and serve current users better.
Travelzoo (TZOO) is a US based company that has published “real-world” travel and entertainment packages since 1998. Since then, management has successfully grown and navigated through a changing world. The most recent addition to their travel deals is metaverse based, this puts them at the forefront of metaverse-travel access.
The announcement by the company yesterday (March 14) that they have created a metaverse division and plan to launch Travelzoo META in a few weeks adds an entirely new and exciting dimension to its business. Travelzoo META is a paid subscription-based service that provides members with exclusive access to metaverse travel and unique metaverse vacation experiences.
About the Meta Division
Travelzoo has been building a team of Metaverse travel experience scouts in collaboration with a business partner. Similar to its other travel services, TZOO doesn’t plan to produce or organize the experiences, they will be the conduit that allows subscribers access to unique travel experiences.
"We believe that Metaverse spaces and its future destinations provide completely new and different experiences that consumers want to see," said Holger Bartel, Global CEO of Travelzoo. "The Metaverse is disruptive and abundant with lucrative opportunities for innovative companies that are willing to be the first movers."
The build-out of the new business is expected to be funded from annual membership fees to be paid by Travelzoo META members.
Travelzoo boasts 30 million members throughout Asia Pacific, Europe, and North America, as well as millions of website users. It has provided for decades what it considers the best travel, entertainment, and local deals available from various companies that advertise through Travelzoo’s service. Most of the company's revenue is derived from North America.
One of the four research analysts that publishes reports on TZOO is Mike Kupinski, Director of Research - Senior Research Analyst, Media & Entertainment at Noble Capital Markets. Mr. Kupinski’s most recent report on Travelzoo was published on March 4, 2022. The report titled Why Investors Should Not Look In The Rearview Mirror includes a price target and earnings numbers, along with the analyst's current rating.
The new META division is in addition to the ongoing real-world travel and entertainment deals the company publishes.
Travelzoo plans to host an investor conference call at the end of April to provide an update.
As new technology becomes available, successful companies pivot, adapt, and find creative ways to recognize where they can add more value. While businesses are looking for ways to enhance their own businesses with new technology, the late April conference call planned by Travelzoo is on my to-do list.
Managing Editor, Channelchek
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